Successful year ahead follows 2014 growth

A RUN of successful deal completions during 2014 signals a prosperous year ahead for North East businesses, according to the Corporate Finance experts at Tait Walker.

The Corporate Finance team assisted with 10 high profile deals for local SMEs throughout 2014, providing invaluable advice for businesses across a range of sectors seeking to raise finance, review funding solutions or buy or sell a business.

From assisting North Shields-based Chirton Engineering in their sale to Carrs MI, to advising the management buyout of Newton Aycliffe-based JDP Contracting Services Ltd and managing the disposal of Knowledge IT to Onyx Group; the team also advised on the funding of the iconic Assembly Rooms and entrepreneurial Break90.

Citing growing confidence in the region’s marketplace and improved access to funding as key contributors towards the resurgence in the North East economy, the firm has also seen a healthy appetite for inward investment from outside the region, from UK-based business buyers backed by private equity looking to purchase and build in the North East.

Tait Walker partner Michael Smith said: “The mood in the marketplace is improving and the deals completed last year show confidence for the region as a whole. The next tranche of JEREMIE Funding has hugely positive implications as does the marked increase in the number of banks willing to fund North East businesses.

Michael added: “From talking to our clients and the corporate finance team’s current pipeline of activity, the future looks very positive, both for Tait Walker and the region as a whole.”

Reflecting its confidence in the region’s deal activity, the firm recently expanded its award winning team with a mixture of 4 new recruits and promotions, most recently welcoming the former chief operating officer at the North East Chamber of Commerce, Chris McCourt, as associate partner.

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